Labor Productivity and Real Exchange Rate : The Balassa-Samuelson Disconnect in the former Yugoslav Republic of Macedonia

The Balassa-Samuelson Disconnect in the former Yugoslav Republic of Macedonia

Labor Productivity and Real Exchange Rate : The Balassa-Samuelson Disconnect in the former Yugoslav Republic of Macedonia
This paper seeks to investigate the transmission mechanisms linking productivity to the real exchange rate in the former Yugoslav Republic of Macedonia. At first glance, the stylized facts-low labor productivity growth and a trend real depreciation-suggest that a Balassa- Samuelson effect is in play. We find that the relationship between the two is READ MORE...

Publication date: June 2005
ISBN 9781451861327
$15.00

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